IEX Records Strong Performance in December '23

Government data published in December'23 revealed that the country's energy consumption remained steady at 119.07 BUs.

January 05, 2024. By Abha Rustagi

Indian Energy Exchange (IEX), showcased robust performance in December 2023, achieving an overall volume of 9,707 MU. This figure includes an impressive 10.52 Lac Renewable Energy Certificates (RECs), equivalent to 1052 MU, marking a substantial 14.9 percent increase on a Year-on-Year (YoY) basis.

In the electricity market, IEX achieved a total volume of 8,655 MU in December 2023, representing an 8.7 percent YoY increase. For the third quarter of fiscal year 2024, the overall volume reached 28,326 MU, registering a commendable 16.9 percent YoY growth.

Government data published in December '23 revealed that the country's energy consumption remained steady at 119.07 BUs.

The Day-Ahead Market (DAM) volume for December '23 was 4,798 MU, slightly lower than the previous year but with a marginal increase of 1.5 percent over Q3 FY '23.

The Real-Time Electricity Market (RTM) volume increased significantly to 2,405 MU in December '23, marking a remarkable 36.4 percent YoY growth.

The Green Market, including the Green Day-Ahead and Green Term-Ahead Market segments, achieved a volume of 232 MU in December '23 and a total of 609 MU during Q3 FY '24.

The Renewable Energy Certificate (REC) market saw substantial growth, with a trading volume of 10.52 Lac RECs in December '23, indicating a remarkable 115.9 percent YoY increase.

The Market Clearing Price in the Day Ahead Market for December was INR 4.54/unit, reflecting a 13 percent YoY decrease.

With favorable Policy and Regulatory interventions, the exchange experienced an 18 percent YoY increase in sell bids, paving the way for improved sell liquidity and potentially leading to a decline in power prices on the exchanges. This presents an opportunity for Distribution Companies (Discoms) and Industrial consumers to optimize their power procurement costs.

IEX's performance in various market segments underscores its pivotal role in shaping India's dynamic energy landscape and promoting sustainable energy solutions.

Tags:

Business

IEX Green Market

Indian Energy Exchange

IEX

Renewable Energy Certificates

Renewable energy

Day-Ahead Market

Real-Time Electricity Market

Discoms